Amazon offers to buy 60% stake in Flipkart, pay $2 bn breakup fee: Report

As a new contender for Indian online retailer Flipkart, Amazon.com Inc has made a formal offer to buy a 60 per cent stake in e-commerce giant on Monday.

Amazon also offered Flipkart a breakup fee of $2 billion, CNBC-TV18 reported on Wednesday, citing sources. According to the sources, the giant is also seeking a non-compete agreement with Flipkart's founders.

The offer is likely to be on par with Walmart Inc's bid for the e-commerce company, it reported.

Business Standard in April had reported that with Walmart eyeing a 55-70 per cent stake in Flipkart, most smaller investors would be selling